Closure News

Big Lots to close 23 more Texas stores, including one near Austin

Big Lots dolls.

Big Lots

Ohio-based national discount chain Big Lots is undergoing Chapter 11 bankruptcy, and is closing down more locations, including 23 newly-revealed store closures going down in Texas.

The chain executed a first round of closings in September, consisting of 344 stores slated to be closed, with one in Austin.

Now they've added another 150 locations to be shuttered, which they revealed in recent filings as part of their Chapter 11 bankruptcy process including a filing on October 4.

That includes one in the Austin area, in Round Rock, at 6900 San Pedro Ave., Ste 119.

Texas has the most locations closing on the list with 23. That's followed by California (17), New York (9) and Florida (9).

See the full list of newly-announced closures here.

The latest round brings the total number of closures to nearly 500. The company plans to sell its assets and ongoing business operations to private equity firm Nexus Capital Management.

Other closures across Texas include:

Eight stores in Dallas-Fort Worth
Amarillo: 3510 E Interstate 40
Beaumont: 5910 Eastex Fwy
College Station: 1913 Texas Ave S
Converse: 8318 Fm 78
Corpus Christi: 4101 Interstate Hwy 69 Access Rd
Houston: 9795 Westheimer Rd
Houston: 6138 Hwy 6 N
Katy: 923 S Mason Rd
Pearland: 2028 N Main St
Nacogdoches: 4919 North St, Ste 101
Portland: 1239 U.S. 181
Round Rock: 1201 S Interstate 35 Ste 200
San Antonio: 6900 San Pedro Ave Ste 119
Tomball: 27816 State Hwy 249
Tyler: 1421 S Beckham Ave

closure

GOB Sale

All Austin-area Big Lots stores hold going out of business sales

Photo by Brandon Bell/Getty Images

Big Lots

Discount retail chain Big Lots is hosting a massive "GOB" — going out of business — sale, in anticipation of a possible company-wide closure.

The Columbus, Ohio-based chain has not come out and said it is going out of business — but instead that is holding the going-out-of-business sales to protect the value of the company.

"We all have worked extremely hard and have taken every step to complete a going concern sale," Big Lots President and CEO Bruce Thorn said in a statement. "While we remain hopeful that we can close an alternative going concern transaction, in order to protect the value of the Big Lots estate, we have made the difficult decision to begin the GOB process."

The sell-off comes after a stalled sale of Big Lots to Nexus Capital Management, which was in motion after Big Lots initiated bankruptcy proceedings under Chapter 11 in September.

At that time, they executed a first round of closings — a total of 344 stores that included just one in the Austin area. More rounds of closures followed in the coming months.

On December 19, Big Lots determined that the sale would not be moving forward.

According to Fast Company, Big Lots did not explain why it was unable to complete a sale to Nexus, other than reports that an appraisal of Big Lots' inventory came in below expectations, which would make it unviable for Nexus Capital Management buy the company.

While they continue to look for alternatives, the plan now is to do the GOB sale in anticipation of a company shutdown.

Fans will miss Big Lots for their good-quality furniture, household goods, seasonal items, and gourmet foodstuffs, as well as basics like cleaning products and cereal.

There are currently four stores still operating in the Austin area:

Cedar Park: 850 N Bell Blvd., Ste. 104
Round Rock: 1201 S. Interstate 35, Ste. 200, Round Rock
Spicewood Springs: 8666 Spicewood Springs Rd.
Southeast Austin: 801 E. William Cannon Dr., Ste. 135b

closings